In a statement, ASIC revealed that it successfully applied for orders in the Federal Court on 15 July to add five new defendants to the proceedings against Bradley and Deborah Sherwin and associated entities, including a number of financial advice firms.

According to the statement, “legal representatives of the new defendants did not oppose the making of the orders”.

The proceedings were commenced by ASIC in January and seek orders to “preserve assets for the benefit of investors whose funds had been applied to Wickham and other corporate entities connected to Bradley Sherwin and against his wife, Deborah Sherwin”.